Wall Street Today | EU will fund arms deliveries to Ukraine and hit Russia with new sanctions
U.S. futures sink, oil up as West isolates Russia
U.S. equity futures slid, bonds rose and oil surged Monday amid heightened market uncertainty after Western nations unveiled harsher sanctions on Russia for the invasion of Ukraine.
$S&P 500 Index(.SPX.US$ contracts lost more than 2%, while those for the technology-heavy $NASDAQ 100 Index(.NDX.US$ tumbled some 3%. Crude oil surged in excess of 7% at one point.
Gold surges as Ukraine conflict, western sanctions boosts haven
Gold rallied more than 2% after Western nations ramped up sanctions on Russia in response to its assault on Ukraine, spurring demand for the haven asset.
BP offloads its nearly 20% stake in Russia's Rosneft
British energy giant $BP PLC(BP.US$ announced Sunday it was offloading its 19.75% stake in Rosneft, a Russian-controlled oil company. BP CEO Bernard Looney and former exec Bob Dudley is also resigning from Rosneft's board, effective immediately.
"This military action represents a fundamental change," BP chair Helge Lund said in a statement.
BP offloads its nearly 20% stake in Russia's Rosneft
British energy giant $BP PLC(BP.US$ announced Sunday it was offloading its 19.75% stake in Rosneft, a Russian-controlled oil company. BP CEO Bernard Looney and former exec Bob Dudley is also resigning from Rosneft's board, effective immediately.
"This military action represents a fundamental change," BP chair Helge Lund said in a statement.
EU says it will fund arms deliveries to Ukraine and hit Putin with new sanctions, including a ban on Russian state media
The European Union plans new actions in response to Russia's invasion of Ukraine. The EU will for the first time fund the delivery of weapons to Ukraine, European Commission President Ursula von der Leyen said.
The EU will also block Russian aircraft from flying in EU territory, and it will ban Russian state-owned media outlets Russia Today and Sputnik from its airwaves, von der Leyen said. In addition, the EU will impose new sanctions on Belarus' controlling regime led by Alexander Lukashenko, which von der Leyen called "the other aggressor in this war."
SWIFT ban means the Fed may need to be ready with dollars
The decision to exclude various Russian lenders from the SWIFT messaging system could result in missed payments and giant overdrafts within the international banking system and spur monetary authorities to reactivate daily operations to supply the market with dollars.
$CREDIT SUISSE GROUP(CSGKF.US$ strategist Zoltan Pozsar thinks, current excess reserves and reverse repurchase agreement facilities won't be enough, and monetary authorities will need to act. And the upshot from that is that the Federal Reserve, which has been paving the way to start shrinking its balance sheet through so-called quantitative tightening, might actually expand it again first.
Buffett touts Berkshire's infrastructure might with plan to grow
Warren Buffett's $Berkshire Hathaway-A(BRK.A.US$ has amassed $158 billion of domestic infrastructure assets, a feat the billionaire investor said underscored the conglomerate's stature as an industrial powerhouse which he only expects to grow.
The vast collection of assets is the biggest by any U.S. company, Buffett said in his annual letter released on Saturday. The pool highlights the shifts that Berkshire has taken from a company rooted in insurance, retail and stock picks to an operation with a mammoth-sized railroad and sprawling energy empire.
Elon Musk says SpaceX's internet service is available in Ukraine, sending more terminals
SpaceX's internet service Starlink is available in Ukraine and more terminals are being sent to the country, according to the company's CEO Elon Musk. Monitoring group NetBlocks said Thursday that disruptions had been tracked across much of Ukraine including capital city Kyiv.
Ukraine government raises over $10 million in cryptocurrency donations
Ukraine's government has raised more than $10 million in cryptocurrency donations, according to blockchain analytics firm Elliptic. Total crypto donations to the Ukrainian government and NGOs supporting the military now stand at $16.7 million, Elliptic said.
The development shows how Ukraine is turning to crypto for assistance during Russia's military offensive in the country.
Source: Bloomberg, CNBC
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Fynn SG : drop further? yea
70581639 : What does it mean please I’m little new here
Stonkslanger 70581639: Buckle up buttercup we’re going for a ride!
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bullrider_21 70581639: It's a ride downhill not a joy ride.
71780680 70581639: in my apinon I think a lot of this is prices in .if your holding stocks don't panic sell . play options against what you have.